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Feb 16, 2020
02/20
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so while some deficit hawks are just always saying the deficit is a bad thing, it's a bad thing, it actually ignores the fact that the deficit are actually just a way of of themes priorities stes of how it wants to run the economy. soledad: so there was a poll that was done, i think, by gallup, and it said 59% of americans said that they are better off financially today than they were a year ago. and that number is the highest polled said that they feel like next year they'll be doing even better. that's a that's an optimistic reading. that surprised me. does it surprise you? joelle: it doesn't surprise me when we think about the numbers that we we put out there about how the economy is going. so often, the strength of the economy as measured by the stock market. yet less than half of americans own stock. it's measured by the unemployment number. yet a recent gallup gallup poll that the omidyar network put out actually shows that less than half of americans think they're actually in good jobs. and so while relative to the financial crisis, people may be doing better, the reality is, you know
so while some deficit hawks are just always saying the deficit is a bad thing, it's a bad thing, it actually ignores the fact that the deficit are actually just a way of of themes priorities stes of how it wants to run the economy. soledad: so there was a poll that was done, i think, by gallup, and it said 59% of americans said that they are better off financially today than they were a year ago. and that number is the highest polled said that they feel like next year they'll be doing even...
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May 2, 2011
05/11
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we take a look at the deficits and say we've got to cut. we should stop and say, what do we need to keep this country going? whether it's education or research or defense or a variety of other services. these are the services we absolutely need if we're going to keep america, the great country that it is and the land of opportunity. then try to find out what it's going to cost to do it efficiently and then go and have a debate about how you raise the money. you can spend less, you can get more coming in, but you don't start with -- there's nothing magical about deficit as opposed to making sure the streets are safe. there's nothing magical about a deficit as making sure we're protected from terrorists. there is nothing magical in the deficit in the context of if we don't educate our kids, they don't have a future and we don't have a tax base down the road. so we're all looking at this the wrong way. the debate should be whether or not government should provide this kind of education, that kind of education, this kind of defense policy, that
we take a look at the deficits and say we've got to cut. we should stop and say, what do we need to keep this country going? whether it's education or research or defense or a variety of other services. these are the services we absolutely need if we're going to keep america, the great country that it is and the land of opportunity. then try to find out what it's going to cost to do it efficiently and then go and have a debate about how you raise the money. you can spend less, you can get more...
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Jul 18, 2011
07/11
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they all piled on to the deficit. don't fix the deficit on the backs of the most vulnerable americans. >> david cote, what about corporations and taxes? we hear about the need to lower tax rates, but then you have companies that aren't paying taxes at all. >> well, if you wanted the most dynamic jobs-creating economy in the world, you would have a 0% corporate tax rate. however, nobody can stand that, because in our pursuit of fairness, we actually hurt the very people we're trying to be fair to. so, if we say, all right, what we need to do is, in the pursuit of fairness, attach some kind of tax rate, you should make it the most simple, easy-to-do thing possible, and that's why i think the simpson/bowles commission, i think we got it right, as we said take it away for everybody. all the exclusions, all the exemptions, take it away for everybody so you broaden the base and significantly lower the rates. >> yes. >> you can get an increase in taxes and everybody's going to be happy, and corporations will also get territo
they all piled on to the deficit. don't fix the deficit on the backs of the most vulnerable americans. >> david cote, what about corporations and taxes? we hear about the need to lower tax rates, but then you have companies that aren't paying taxes at all. >> well, if you wanted the most dynamic jobs-creating economy in the world, you would have a 0% corporate tax rate. however, nobody can stand that, because in our pursuit of fairness, we actually hurt the very people we're trying...
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Feb 11, 2013
02/13
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the economy grows if the deficit goes down, it shrinks if the deficit goes up. you argue in the book that the deficit really doesn't matter right now. do you disagree with the government's projections? >> no, i think the cbo report is pretty reasonable. and it says that we wish we had lower debt, and if we look at the long term it would be nice to pay down the debt but it does not show a crisis. and trying to slash the deficit right now will deepen the clear and present danger which is a very high unemployment and ongoing economic slump. so i actually -- i found the cbo report supportive of what i'm saying, that right now our priorities should be jobs and not the deficit. >> i want to get your reaction to something that dave camp told us, the chairman of the house ways and means committee. he said that we need an equitable approach to cutting and spending. take a listen. i want to be get your reaction to it. >> sure. >> what we really need now is the second piece of the balanced approach which the president called for in december which is beginning the reining i
the economy grows if the deficit goes down, it shrinks if the deficit goes up. you argue in the book that the deficit really doesn't matter right now. do you disagree with the government's projections? >> no, i think the cbo report is pretty reasonable. and it says that we wish we had lower debt, and if we look at the long term it would be nice to pay down the debt but it does not show a crisis. and trying to slash the deficit right now will deepen the clear and present danger which is a...
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Apr 17, 2011
04/11
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>> i'm really serious about a plan that claims to reduce the deficit by spending $1 trillion on tax cuts for millionaires and trillion yarz. >> what we heard today was not leadership from our commander in chief. what we heard today was a political broadside from our campaigner in chief. >> the budget war, rising gas prices, the looming debt ceiling deadline and the jobs outlook, all topics for our lead newsmaker guest this morning, the president's point man on the economy, treasury secretary tim geithner. then, what's realistic? our "political roundtable" weighs in on who has the more serious plan to tackle the deficit and whether there is the political will to solve the toughest problems, like medicare and our tax system, without another threat to shut down the government. plus, mitt romney inches closer to jumping into the race. >> it's time we put america back on a course of greatness, with a growing economy, good jobs and fiscal discipline in washington. >> if he's seen by many as the gop front-runner, why is donald trump doing so well in the polls? with us, former chairman of the fe
>> i'm really serious about a plan that claims to reduce the deficit by spending $1 trillion on tax cuts for millionaires and trillion yarz. >> what we heard today was not leadership from our commander in chief. what we heard today was a political broadside from our campaigner in chief. >> the budget war, rising gas prices, the looming debt ceiling deadline and the jobs outlook, all topics for our lead newsmaker guest this morning, the president's point man on the economy,...
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Dec 20, 2017
12/17
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so you're not adding to the deficit at all because of this? >> nobody knows the answer to that question. that's in the let me say it this way, savannah, people are living paycheck to paycheck in this country. more than half of the people are in this country. another group about one check away from living paycheck to pay check. we have not had a 3% growth economy since the great depression, 2006. what that means is stagnant wages, faster standards, you have to get ahead in america. that's what we are doing t. average tax cut for the median family of four in america will be $2,059. it's a serious tax cut. so what we are trying to do is give relief to hard working family, we are doubling the standard deduction. we are making it so simple that almost then out of ten tax pay kers do tear taxes on a form leak a postcard, so the point we are trying to make sheer savannah with we feed fast economic growth. we are living pay check to paycheck. >> that is good for america t. other thing you need to do. you rightfully point out, we have to control our sp
so you're not adding to the deficit at all because of this? >> nobody knows the answer to that question. that's in the let me say it this way, savannah, people are living paycheck to paycheck in this country. more than half of the people are in this country. another group about one check away from living paycheck to pay check. we have not had a 3% growth economy since the great depression, 2006. what that means is stagnant wages, faster standards, you have to get ahead in america. that's...
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Nov 21, 2011
11/11
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so, inhe name of lowering the deficit, you want toextend those tax cuts, which increases the deficit, and would not be offset by the tax increase that you were talking about. >> how did the super committee get created in the first place here? when the president asked us to increase the debt ceiling, w said we're not going to do it unless we can reduce the cost of government. and so we reduced the discretionary side of the budget by over $900 billion. and then the committee was created to come up with the other $1.2 or$1.5 trillion. supposedly on the maatory side. this is where two-thirds of our spending occurs. on everything from medicare and medicaid to food stamps and ag subsidies and the like. and we focused on that. and our democratic friends were never lling to dohe entitlement reforms that would have reduced the costs -- >> senator you haven't answered my question. >> i'm getting to the point. this was not about extending the bush tax cuts. it was about trying to do entitlement reform on the mandatory side of the budget. when our democratic friends mad it very clear they weren't
so, inhe name of lowering the deficit, you want toextend those tax cuts, which increases the deficit, and would not be offset by the tax increase that you were talking about. >> how did the super committee get created in the first place here? when the president asked us to increase the debt ceiling, w said we're not going to do it unless we can reduce the cost of government. and so we reduced the discretionary side of the budget by over $900 billion. and then the committee was created to...
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Jul 25, 2011
07/11
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so, we could see serious deficit reform. senator coburn comes on next, the gang of six worked at it. they've got an outline. there's plenty parts -- >> help me understand the timing. you're saying you want a vote that says the debt ceiling is raised until 2013. there could be this super commission that takes on the hard stuff. >> right, right. >> and when does it have to vote up or down, by when? >> if the super committee doesn't produce something that the congress approves, and my understanding is this is speaker boehner's plan -- if they don't produce something in early -- at the end of -- pardon me, at the end of '11 or '12, then there's action that must take place. senator mcconnell has a plan where the president would come to the congress, give his list of cuts, they could vote approval or disapproval on that proposal in order to get the extension of the debt ceiling, but it would not be this sword being held over the american people's heads once again. >> but why should the american people have any more confidence in t
so, we could see serious deficit reform. senator coburn comes on next, the gang of six worked at it. they've got an outline. there's plenty parts -- >> help me understand the timing. you're saying you want a vote that says the debt ceiling is raised until 2013. there could be this super commission that takes on the hard stuff. >> right, right. >> and when does it have to vote up or down, by when? >> if the super committee doesn't produce something that the congress...
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Aug 1, 2011
08/11
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has washington's attempt to come up with a deficit-cutting deal exposed a deficit of leadership in washington? our roundtable weighs in. nbc's tom brokaw, former governor jennifer granholm, nbc's tom brokaw, former govei love that my daughter's part fish. but when she got asthma, all i could do was worry ! specialists, lots of doctors, lots of advice... and my hands were full. i couldn't sort through it all. with unitedhealthcare, it's different. we have access to great specialists, and our pediatrician gets all the information. everyone works as a team. and i only need to talk to one person about her care. we're more than 78,000 people looking out for 70 million americans. that's health in numbers. unitedhealthcare. man: everybody knows you should save for retirement, but what happens when you're about to retire? woman: how do you go from saving to spending? fidelity helped us get to this point, and now we're talking about what comes next. man: we worked together to create a plan to help our money last. woman: so we can have the kind of retirement we want. now, you know how this works. just
has washington's attempt to come up with a deficit-cutting deal exposed a deficit of leadership in washington? our roundtable weighs in. nbc's tom brokaw, former governor jennifer granholm, nbc's tom brokaw, former govei love that my daughter's part fish. but when she got asthma, all i could do was worry ! specialists, lots of doctors, lots of advice... and my hands were full. i couldn't sort through it all. with unitedhealthcare, it's different. we have access to great specialists, and our...
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May 29, 2011
05/11
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i think harold's right, if obama moves right on deficit reduction, real deficit reduction, i'm a reasonable version of what republicans want, he'll be tough to beat, but i don't see a medicare deal happening right now because republicans need to play the politics. they've played policy. now they need to play politics because that's all the democrats are doing. so, i think it's going to be -- you know, we've launched a missile on the deficit, and it's either going to hit the deficit or it's going to hit grandma's house, you know? we've got to explain that this is real deficit reduction that's going to save medicare. >> all right. we will leave it there. thank you all very much. that is all for today. we're going to be away next sunday during nbc sports coverage of the french open, but we will return the following week. if it's sunday, it's "meet the press." and we leave you this memorial day weekend and we honor and remember all of the men and women who have given their lives in service to this nation. god bless our troops. few years, up to 1 million new teachers will be needed as baby boome
i think harold's right, if obama moves right on deficit reduction, real deficit reduction, i'm a reasonable version of what republicans want, he'll be tough to beat, but i don't see a medicare deal happening right now because republicans need to play the politics. they've played policy. now they need to play politics because that's all the democrats are doing. so, i think it's going to be -- you know, we've launched a missile on the deficit, and it's either going to hit the deficit or it's...
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Oct 4, 2012
10/12
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no tax cut that adds to the deficit. but i do want to reduce the burden being paid by middle-income americans. and to do that that also means i cannot reduce the burden paid by high-income americans. so any language to the contrary is simply not accurate. >> mr. president? >> well, i think what -- let's talk about taxes because i think it's instructive. now, four years ago when i stood on this stage i said that i would cut taxes for middle-class families. and that's exactly what i did. we cut taxes for middle-class families by about $3,600. and the reason is because i believe that we do best when the middle class is doing well. and by giving them those tax cuts they had a little more money in their pocket. so maybe they can buy a new car. they are certainly in a better position to weather the extraordinary recession we went through. maybe they can buy a computer for their kid who's going off to college. which means they're spending more money, businesses have more customers, businesses make more profits, and then hire mo
no tax cut that adds to the deficit. but i do want to reduce the burden being paid by middle-income americans. and to do that that also means i cannot reduce the burden paid by high-income americans. so any language to the contrary is simply not accurate. >> mr. president? >> well, i think what -- let's talk about taxes because i think it's instructive. now, four years ago when i stood on this stage i said that i would cut taxes for middle-class families. and that's exactly what i...
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Apr 10, 2011
04/11
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but in that process, we should be able to reduce the deficit. so, we should not be playing brinksmanship with a full faith and credit of the united states of america. so, of course we're going to do that, but what we need to do at the same time, in the months ahead, is we've got to decide -- and it's going to be a tough fight -- how are we going to reduce the deficit, get ao a more sustainable fiscal trajectory, but that doesn't cost the economy or grow jobs. >> laying out the deficit count, that's new this morning, and i want to break that down a bit. back in november of last year, the president set up a debt commission, and he said a lot of things to the american people, including this -- >> i set up this commission precisely because i'm prepared to make some tough decisions. i can't make them alone. i'm going to need congress to work with me. if we are concerned about debt and deficits, then we're going to have to take actions that are difficu difficult, and we're going to have to tell the truth to the american people. >> he said that, and ye
but in that process, we should be able to reduce the deficit. so, we should not be playing brinksmanship with a full faith and credit of the united states of america. so, of course we're going to do that, but what we need to do at the same time, in the months ahead, is we've got to decide -- and it's going to be a tough fight -- how are we going to reduce the deficit, get ao a more sustainable fiscal trajectory, but that doesn't cost the economy or grow jobs. >> laying out the deficit...
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Feb 20, 2011
02/11
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social security does not add one penny to the deficit. social security untouched will make every promised payment for more than a years. the deficit commission was given a charge. add 75 more years of solvency to social security. it came up with an approach. i think, frankly, another commission came up with a better approach. we need to move on social security but let's put it on a track that runs parallel but separate to deficit reduction. the social security program as it is currently put together does not have any impact on the deficit. >> senator graham, few people believe there's none at arithmetic problem with social security. >> when i was 21 and 22 my parents died. i had a 13-year-old sister. i was in college in law school. if it weren't for survivor benefits coming to my sister from my parents' contribution we would have a hard time make it. today i'm 55. i have no kids. we're paying more in benefits than we're collecting in taxes in about five years. in 2037 maybe even sooner you have to cut benefits by a third or across the tab
social security does not add one penny to the deficit. social security untouched will make every promised payment for more than a years. the deficit commission was given a charge. add 75 more years of solvency to social security. it came up with an approach. i think, frankly, another commission came up with a better approach. we need to move on social security but let's put it on a track that runs parallel but separate to deficit reduction. the social security program as it is currently put...
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Oct 8, 2013
10/13
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we've cut the deficit in half since i took office. the deficit is coming down faster than any time in the last 50 years. america is poised to become the number one energy producer in the world this ye. this year for the first time in a very long time we're producing more oil than we're importing. we've got a lot of good things going for us, but the uncertainty caused by just one week of this nonsense so far has caused businesses to reconsider spending and hiring. we've seen consumer confidence plunge to the lowest level sense 2008. you've seen mortgages held up by thousands of home buyers who weren't sure about the economic situation out there. all this adds to our deficit. it doesn't subtract from it. so we can't afford these manufactured crisises every few months. as i said, this one isn't even about deficits or reductions. our deficit is falling at the fastest pace in 60 years. the budget that the senate passed is at republican spending levels. it's their budget. democrats were willing to put votes on just to make sure the governme
we've cut the deficit in half since i took office. the deficit is coming down faster than any time in the last 50 years. america is poised to become the number one energy producer in the world this ye. this year for the first time in a very long time we're producing more oil than we're importing. we've got a lot of good things going for us, but the uncertainty caused by just one week of this nonsense so far has caused businesses to reconsider spending and hiring. we've seen consumer confidence...
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Mar 20, 2017
03/17
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you would still have a deficit this year. over the course of the next decade we have to look at the mandatory spending side to figure out a way to make changes to the way we spend money. >> have you figured out how to pay for the trillion dollar infrastructure yet? >> no. one of the neat things about having a businessman in office and all of the folks come from the private sector is they have brought ideas that i don't think government has contemplated before. public/private partnerships, ways to capitalize future revenue flows, creative ideas. i'm a deficit hawk. i think it's why i got the job. but the more i hear about the infrastructure plan the more comfortable i'm getting. >> speaking of the debt ceiling we hit it on friday. extraordinary measures by the treasury secretary mean a couple more months. you were a tough nut to crack when you were congressman mulvaney. why should people like-minded with you who said i will give you the debt ceiling but i want real cuts, real deficit reduction. at one point you said i will rai
you would still have a deficit this year. over the course of the next decade we have to look at the mandatory spending side to figure out a way to make changes to the way we spend money. >> have you figured out how to pay for the trillion dollar infrastructure yet? >> no. one of the neat things about having a businessman in office and all of the folks come from the private sector is they have brought ideas that i don't think government has contemplated before. public/private...
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Nov 27, 2011
11/11
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in 2010, we have a deep deficit. what changed? first, the growth of the entitlement programs, as i mentioned. second were the tax cuts put in place by president bush. and those are the two leading reasons. third, lesser important, but still important is the war in iraq and afghanistan. you have to deal with both of the first two to get this done. >> let me ask you that. you say there's orthodoxy. the other democrats say there's orthodoxy on the right, they'll never pass anything to do with tax increases. what about the pressure democrats are under having to do with entitlements. you talk about norquist, what about the aarp which ran ads like this, warning members of congress not to mess with social security and medicare. watch. >> to washington, before you even think about cutting my medicare and social security benefits, here's a number you should remember, 50 million. we are 50 million seniors who earned our benefits. you will be hearing from us, today, and on election day. >> so, senator, isn't it true, that, in fact, democrats
in 2010, we have a deep deficit. what changed? first, the growth of the entitlement programs, as i mentioned. second were the tax cuts put in place by president bush. and those are the two leading reasons. third, lesser important, but still important is the war in iraq and afghanistan. you have to deal with both of the first two to get this done. >> let me ask you that. you say there's orthodoxy. the other democrats say there's orthodoxy on the right, they'll never pass anything to do...
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Oct 4, 2012
10/12
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. >> you said you'd cut the deficit in half. it's four years later, we still have trillion-dollar deficit. >> the way we do is for additional cut, we ask for a dollar of additional revenue, paid for, as i indicated earlier, by asking those of us who have done very well in this country to contribute a little bit more to reduce the deficit. >> reporter: the president insisted romney would spend $5 trillion on tax breaks favoring the wealthy. >> math, common sense and our history shows us that's not a recipe for job growth. >> everything he just said about my tax plan is inaccurate. >> reporter: they clashed on wall street, whether banks should be too big to fail, and medicare. >> cutting $716 billion from medicare to be able to balance the additional cost of obama care is, in my opinion, a mistake. >> if you repeal obama care, and i have become fond of this term, obama care, if you repeal it, what happens is those seniors right away are going to be paying $600 more in prescription care. >> reporter: the fiercest exchange over heal
. >> you said you'd cut the deficit in half. it's four years later, we still have trillion-dollar deficit. >> the way we do is for additional cut, we ask for a dollar of additional revenue, paid for, as i indicated earlier, by asking those of us who have done very well in this country to contribute a little bit more to reduce the deficit. >> reporter: the president insisted romney would spend $5 trillion on tax breaks favoring the wealthy. >> math, common sense and our...
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Dec 12, 2010
12/10
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they kept saying this is going to reduce the deficit. the only way the health care bill reduces the deficit is if they raise taxes. when you read that cbo report that all the democrats like to refer, to very clearly it says government spending on health care under this bill goes up even more than if we had done nothing. so it will absolutely raise costs for the government. >> you're talking about the negatives of an expanded government, whether it's health care, whether it's, you know, ownership of various industries. democrats don't have a monopoly on that, right, michelle? let's talk about we actually saw a huge increase in the size of government with the creation of the tsa. and that also ballooned the deficit, and that was under george w. bush. how do you explain that? >> this is why i wrote the book, because i was so frustrated. "you know i'm right" was meant to be a pun on redefining the right. because i watched for eight years while supposedly small government party just made government bigger, bigger, and bigger. george bush expa
they kept saying this is going to reduce the deficit. the only way the health care bill reduces the deficit is if they raise taxes. when you read that cbo report that all the democrats like to refer, to very clearly it says government spending on health care under this bill goes up even more than if we had done nothing. so it will absolutely raise costs for the government. >> you're talking about the negatives of an expanded government, whether it's health care, whether it's, you know,...
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Apr 18, 2011
04/11
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he says this -- "we will not be able to control our budget deficits without raising axes. president obama's speech wednesday lived up to that moment. now democrats and republicans in congress must take a similar stand. i told the truth in 1984 in my acceptance speech at the democratic national convention in san francisco. the budget will be squeezed, taxes will go up. it must be done. mr. reagan will raise taxes and so will i. he won't tell you. i just did. i lost the election, but i won the debate. reagan ended up increasing taxes in 1984, '85, '86, and '87 to mend the budget and tax systems." do taxes have to go up to resolve the debt? >> no, and with respect to mr. month dale, that conversation won't go over any better now than in '84. >> but reagan did it at one point. >> you can't raise taxes, particularly in this economy, without hurting jobs and economic growth, and we desperately need those things. whether you're in favor of bolstering national security on the one hand or shoring up entitlements on the other hand, you need the revenue that can fund those programs,
he says this -- "we will not be able to control our budget deficits without raising axes. president obama's speech wednesday lived up to that moment. now democrats and republicans in congress must take a similar stand. i told the truth in 1984 in my acceptance speech at the democratic national convention in san francisco. the budget will be squeezed, taxes will go up. it must be done. mr. reagan will raise taxes and so will i. he won't tell you. i just did. i lost the election, but i won...
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Jul 17, 2011
07/11
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can he or she carry the burden of rejecting big deficit reduction? what about obama, if there's no debt deal, will he have to defend the liberal label next year? the knives are out. should john boehner expect a full-blown mutiny. is eric cantor the number two house republican leading the tea party against their own speaker? finally, family business. michele bachmann's number one in iowa but her family business about become her number one problem. it works to confer gays to straights. will that strike voters as sensible? will it sell on the stump, even among conservatives? hi, i'm chris matthews. welcome to the show. with us today, "new york" magazine john heilemann, cnn's gloria borger, nbc's kelly o'donnell and "time" magazine's joe klein. first up, narrative has been about trying for a big debt reduction deal this year but the political consequences for barack obama and g.o.p. nominee next year are the real story here. if there's no grand deal what are the 2012 consequences? for the president, there are some 2012 upsides perhaps even without a big
can he or she carry the burden of rejecting big deficit reduction? what about obama, if there's no debt deal, will he have to defend the liberal label next year? the knives are out. should john boehner expect a full-blown mutiny. is eric cantor the number two house republican leading the tea party against their own speaker? finally, family business. michele bachmann's number one in iowa but her family business about become her number one problem. it works to confer gays to straights. will that...
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May 3, 2021
05/21
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now some senate democrats are already hinting at deficit spending. hawaii's brian schatz saying i'm not a big pay-for guy. connecticut's chris murphy, i don't know that it fully needs to be paid for. minnesota's john tester, i think we should find a way to pay for half of it up front. to get his plans through congress, biden needs to get centrist democrats on board. >> we need to pay for it. we do. >> and the president has to hold progressives who are defying the white house and pursuing a massive expansion of medicare after a health care overhaul was left out of biden's plan. >> i think it's the wrong approach. we need to take on the lobbyists and big pharma companies that are so willing to pour millions into defeating any kind of reform. >> joining me now is treasury secretary janet yellen. secretary yellen, welcome to "meet the press." >> thanks so much. pleasure to be with you. >> let me start with what is on a lot of folks' minds at least in washington which is simply how do you pay for it. put it in layman's terms here, secretary yellen, how yo
now some senate democrats are already hinting at deficit spending. hawaii's brian schatz saying i'm not a big pay-for guy. connecticut's chris murphy, i don't know that it fully needs to be paid for. minnesota's john tester, i think we should find a way to pay for half of it up front. to get his plans through congress, biden needs to get centrist democrats on board. >> we need to pay for it. we do. >> and the president has to hold progressives who are defying the white house and...
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Jan 21, 2015
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ambitious, that we would crush jobs and explode deficits. instead, we've seen the fastest economic growth in over a decade our deficits cut by two-thirds, a stock market that has doubled and health care inflation at its lowest rate in 50 years. [ applause ]
ambitious, that we would crush jobs and explode deficits. instead, we've seen the fastest economic growth in over a decade our deficits cut by two-thirds, a stock market that has doubled and health care inflation at its lowest rate in 50 years. [ applause ]
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Apr 5, 2021
04/21
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then there's debt -- deficit spending. does president biden guarantee he'll sign a bill that is totally paid for, or will there be some deficit spending in this bill? >> well, i'm not going to get ahead of the process in congress. what i will say is that the vision the president put forward
then there's debt -- deficit spending. does president biden guarantee he'll sign a bill that is totally paid for, or will there be some deficit spending in this bill? >> well, i'm not going to get ahead of the process in congress. what i will say is that the vision the president put forward
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Nov 14, 2010
11/10
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the tough new proposals to slice america's deficits. find out what a white house economic adviser thinks. >>> and bulldozers, back hose. i'll talk to the man who ran a major manufacturing company about making stuff in the usa. "the wall street journal report" begins right now. >> this is america's number one financial news program, "the wall street journal report." now maria bartiromo. >> here is a look at what is making news as we head into a new week on wall street. painful solution and shared sacrifice. that's what a special bipartisan presidential commission on reducing the deficit is calling for in its preliminary report. among the proposals being offered to cut america's deficit, eliminate the tax deduction on mortgages greater than $500,000. raise the social security retirement age to 69. that by 2075. eliminate earmarks, and cut defense by $100 billion in 2015. the panel needs 14 of its 18 members to agree on the outline for the proposal to even reach congress. >>> the dow industrials broke a six-day winning streak on monday, wa
the tough new proposals to slice america's deficits. find out what a white house economic adviser thinks. >>> and bulldozers, back hose. i'll talk to the man who ran a major manufacturing company about making stuff in the usa. "the wall street journal report" begins right now. >> this is america's number one financial news program, "the wall street journal report." now maria bartiromo. >> here is a look at what is making news as we head into a new week...
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Apr 14, 2011
04/11
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today we begin with digging out of the deficit. president obama laid out his blueprint yesterday for how to get out of the nation's debt. not surprisingly, the republicans say the plan doesn't work for them. nbc's steve handelsman reports. >> reporter: under fire from critics who claim he's failed to lead, president obama laid out his new plan to blood up our red ink. >> we have to live within our means. we have to reduce our deficit and we have to get back on a path that will allow us to pay down our debt. >> reporter: the obama goal is to wipe out $4 trillion of deficit in 12 years, debt declining as a percentage of the economy in 2015. with a fail-safe clause to force spending cuts if that target is not hit. and for every $3 in spending cuts, $1 in tax hikes. focused on the top brackets, plus mortgage and charitable deductions. >> we cannot afford $1 trillion worth of tax cuts for every millionaire and billionaire in our society. we can't afford it. and i refuse to renew them again. >> reporter: republicans said no way. >> raisi
today we begin with digging out of the deficit. president obama laid out his blueprint yesterday for how to get out of the nation's debt. not surprisingly, the republicans say the plan doesn't work for them. nbc's steve handelsman reports. >> reporter: under fire from critics who claim he's failed to lead, president obama laid out his new plan to blood up our red ink. >> we have to live within our means. we have to reduce our deficit and we have to get back on a path that will allow...
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Jul 10, 2011
07/11
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a weak jobs number, worries about the debt ceiling and the deficit. what does it mean to the markets? my conversation with the chairman of the house budget committee, paul ryan, talking with me about medicare, compromise, and the federal budget. >>> and what is cooking when it comes to trends in barbecue? we'll check out the hot grills, the tasty dishes and find out what is new in the backyard. the "wall street journal report" begins right now. >> this is america's number one financial news program, "the wall street journal report." now maria bartiromo. >> here is a look at what is making news as we head into a new week on wall street. a very disappointing jobs report out on friday. nonfarm payrolls rising only by 18,000 for the month of june. that is the weakest number since september of last year. most analysts were expecting numbers north of 100,000 jobs created. the unemployment rate, meanwhile, bumped up to 9.2%, the highest it's been since december. >>> the holiday-shortened week saw the bulls running early as the dow and the s&p 500 closed at t
a weak jobs number, worries about the debt ceiling and the deficit. what does it mean to the markets? my conversation with the chairman of the house budget committee, paul ryan, talking with me about medicare, compromise, and the federal budget. >>> and what is cooking when it comes to trends in barbecue? we'll check out the hot grills, the tasty dishes and find out what is new in the backyard. the "wall street journal report" begins right now. >> this is america's...
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Nov 21, 2011
11/11
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we have not been able to get on top of this deficit problem. our normal processes of government seem to be totally broken. the supercommittee has a chance, with extraordinary powers, to do what is necessary to reduce the looming deficits, and i would hope -- have hoped for a long time -- that they would go beyond the minimum to put together a plan that would actually get the deficit on a sustainable track, meaning that our debt would not be rising faster than our economy is growing, which is what is happening now and projected to happen. >> and everybody knows you can't just keep spending and not saving. this is from an individual standpoi standpoint, a corporate standpoint, and of course a country standpoint. let me ask you, alice, if no deal is reached, the doomday scenario for automatic cuts in 2013 is called sequestration. walk us through what that looks like. >> sequestration is a terrible word, but it was just meant to be a sort of damicles hanging over the committee saying, if you don't get a sensible deal, then we have an automatically
we have not been able to get on top of this deficit problem. our normal processes of government seem to be totally broken. the supercommittee has a chance, with extraordinary powers, to do what is necessary to reduce the looming deficits, and i would hope -- have hoped for a long time -- that they would go beyond the minimum to put together a plan that would actually get the deficit on a sustainable track, meaning that our debt would not be rising faster than our economy is growing, which is...
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Jun 26, 2011
06/11
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we've got this deficit talk in wash. how does that play out over the next couple of weeks? and does the market feel shaky to you? >> the market is shaky. we've been expecting a higher volatility summer. there are a lot of things going on. you've got the ongoing issue with greece. you've got the issue of the u.s. debt ceiling. but to my mind the biggest problem right now is we had this unexpected slowing of the economy. the markets were expecting about 3% to 4% growth a few months ago. now it looks like we're in an environment where in the u.s. we're lucky to grow 2%, 2 1/2%. that has a hit to corporate earnings. and this is something investors are starting to come to grips with. the good news is that i think a lot of the bad news is already reflected in the price of stocks. >> because the market has been down for several weeks. >> the market's already down 5% or more from its peak and it wasn't that expensive to start. so i think this will help cushion the down side going forward but investors should expect more volatility. >> russ, thank you so much for your insights. we a
we've got this deficit talk in wash. how does that play out over the next couple of weeks? and does the market feel shaky to you? >> the market is shaky. we've been expecting a higher volatility summer. there are a lot of things going on. you've got the ongoing issue with greece. you've got the issue of the u.s. debt ceiling. but to my mind the biggest problem right now is we had this unexpected slowing of the economy. the markets were expecting about 3% to 4% growth a few months ago. now...
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Sep 26, 2010
09/10
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our state has a huge deficit. meg whitman's plan will make it billions worse by eliminating the capital gains tax for wealthy investors, including herself. economists say her plan will "rip a hole in the budget" and is "deeply flawed". analysts for the l.a. times say whitman's plan is a "pure handout" to the rich creating a "huge risk" to schools and public safety. jerry brown's against this unfair giveaway because it will take billions from our children when we can least afford it. get california working again-for all of us. >>> we're back live from 30 rockefeller plaza in new york to continue our discussion about public school education. i want to talk to you about how to get the best teacher front of our students. i have a parent of three young kids. i go to my child's classroom and i'm told, this teacher is not doing well. we want to give them another year, we want to develop them a little bit. maybe not this year, but maybe next year, things will get better. thi that's not good enough for me as a parent. >> r
our state has a huge deficit. meg whitman's plan will make it billions worse by eliminating the capital gains tax for wealthy investors, including herself. economists say her plan will "rip a hole in the budget" and is "deeply flawed". analysts for the l.a. times say whitman's plan is a "pure handout" to the rich creating a "huge risk" to schools and public safety. jerry brown's against this unfair giveaway because it will take billions from our children...
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Oct 1, 2017
10/17
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any additional dollar to the deficit, # 100 billion, where are you on this? >> so, i'm willing to accept the realities of where we are, and that is that we have a policy base in other words, taxes, kind of like the dot fix, you know, we kept making up the fact that this was going to change. i'm willing to accept current policy, number one, i think that's rational. and i'm willing to accept a reasonable score on dynamic growth. a reasonable score on dynamic growth. joint tax does those, other groups that do it, but if it looks like to me, chuck, we're adding one penny to the deficit, i am not going to be forth. okay. i'm sorry. it is the greatest threat to our nation. the greatest throat our nation. it's like, chuck, we've entered a party atmosphere here, everybody was a fiscal hawk, kind of, not really, but kind of up until the election, now it's, now it's like there's a party going on up here. okay. heck with revenue, heck with the, you know, constraining spending, so yes, i will remain a deficit hawk until i leave here. and i'm looking so forward to this ta
any additional dollar to the deficit, # 100 billion, where are you on this? >> so, i'm willing to accept the realities of where we are, and that is that we have a policy base in other words, taxes, kind of like the dot fix, you know, we kept making up the fact that this was going to change. i'm willing to accept current policy, number one, i think that's rational. and i'm willing to accept a reasonable score on dynamic growth. a reasonable score on dynamic growth. joint tax does those,...
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Oct 18, 2013
10/13
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the gap is the rising deficit. yes, the president's climb the deficit is rishrinking now is t but expected to rise. that's only because the deficit was high to begin with. we chopped off $750 billion the last few years. in terms of the rates the deficit has fallen trks, it's fallen faster between 1993 and 1996 and 2004 and 2007. the president's claim here is also more or less false. i'm sam brock. that's today's reality check. back to you. >> very clear reporting. thank you, sam. >>> another glitch for obama care. covered california, the state's new insurance exchange is pulling its doctor directory after admitting it's filled with incorrect information. administrators say there were several mistakes, for example, some obstetricians were identified as ophthalmologists. the search function for doctors has been offline since last week. the corrected version could be back up next week. so far, about 95,000 applications have been filled for health insurance since october 1st. officials, though, won't say how many have
the gap is the rising deficit. yes, the president's climb the deficit is rishrinking now is t but expected to rise. that's only because the deficit was high to begin with. we chopped off $750 billion the last few years. in terms of the rates the deficit has fallen trks, it's fallen faster between 1993 and 1996 and 2004 and 2007. the president's claim here is also more or less false. i'm sam brock. that's today's reality check. back to you. >> very clear reporting. thank you, sam....
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Mar 7, 2011
03/11
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say you want to reduce the deficit. this reduces it by, you know, $1 trillion over the next 20 years. i'm the only one who has put that plan out there. he goes after individual republicans. mitt romney has a john kerry problem. so let me get this straight, you were before it, before you were against it, that sort of thing. and, you know, he -- and then he says, if you've got an idea, i'm willing to it talk about it. >> all right. we're going to leave it there. thank you both very much. be sure to visit our website this afternoon to watch our take two web extra with david brooks and read an excerpt of his new book, "the social animal." ♪ [ male announcer ] imagination. its supply is limitless. its power is beyond measure. imagination carries us into the future... and helps doctors see what they couldn't before. it provides funding so that solutions beyond our grasp... become within reach. ecomagination. healthymagination. capital. imagination at work. makes anything... everything... possible. ♪ ♪ - if you get yours
say you want to reduce the deficit. this reduces it by, you know, $1 trillion over the next 20 years. i'm the only one who has put that plan out there. he goes after individual republicans. mitt romney has a john kerry problem. so let me get this straight, you were before it, before you were against it, that sort of thing. and, you know, he -- and then he says, if you've got an idea, i'm willing to it talk about it. >> all right. we're going to leave it there. thank you both very much. be...
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Jul 26, 2010
07/10
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this will add to the deficit. why was it important then to make sure it was paid for then but not now? >> this is a responsible way to do it. my job is to help make sure we can borrow to finance the obligations congress gives us. it's a prudent, responsible way given the scale of the emergency, the scale of the damage still facing america, that we finance these additional support for the unemployed and the support for small business. we want to do it in an overall fiscally responsible way. as you know the president proposed a series of measures that would cut our deficit in half over the next several years. that's important for future growth. we'll make sure we get that balance right. >> it was important to be paid for then but not now. >> we can afford to do it this way. i'm completely confident we can. if you look again a what we pay to borrow now, we have very low interest rates in the country because people around the world and americans have a lot of confidence in our capacity as a country to make sure we man
this will add to the deficit. why was it important then to make sure it was paid for then but not now? >> this is a responsible way to do it. my job is to help make sure we can borrow to finance the obligations congress gives us. it's a prudent, responsible way given the scale of the emergency, the scale of the damage still facing america, that we finance these additional support for the unemployed and the support for small business. we want to do it in an overall fiscally responsible...
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Sep 3, 2012
09/12
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everybody kind of said that deficits matter. but i can't figure out what forces them to the table to compromise the action. it seems to me it takes a crisis, either a financial one or an artificial one, or could it be a sudden outbreak of leadership? unfortunately, i don't see the latter happening any time soon. so the question is whether or not there is a mood that we have to get things done, and prove to american people that congress divided between the democrats and republicans, can govern after the election. we may get there but we're not there yet. >> does that mean you don't feel that the election will change things when it comes to the deficit? >> i don't think it will change much, i don't think either side will win decisively, president obama if he win -- if mitt romney wins, even if he gets the senate, democrats will have enough votes to block whatever he wants to do. so the only way this gets done is if the loser decides that governing is more important than scoring points for the election. >> david, always good to see
everybody kind of said that deficits matter. but i can't figure out what forces them to the table to compromise the action. it seems to me it takes a crisis, either a financial one or an artificial one, or could it be a sudden outbreak of leadership? unfortunately, i don't see the latter happening any time soon. so the question is whether or not there is a mood that we have to get things done, and prove to american people that congress divided between the democrats and republicans, can govern...
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Aug 8, 2010
08/10
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is it good policy to raise taxes on the rich to fight the deficit? >> i don't know that they're going to use it to fight the deficit. last year the number of m ears and billionaire in america up 13%, average wages were flat. it's not an insignificant thing to do. we're talking about 35% to 39.6%. the -- we're not talking about something transformative like kennedy who cut the taxes from 90% to 70 phil esposito or reagan who cut them to 15%. chris: is it smart for them to use the old democrat religion, basically that this is about fairness, the rich have got to pay their share? >> well, basically you're only going c thetolinton era tax rates, which as erin siad is not dramatic. that mistakes -- makes it smart politics because there is a group cool he isy in washington right now -- co-al he ising in washington about getting the deficit cuts. do you want to go forward or back? extending the bush era tax cuts for the wealthiest reeks of the bush era and that's going to fit into the broader frame he is trying to put the elections into. chris: so it's not
is it good policy to raise taxes on the rich to fight the deficit? >> i don't know that they're going to use it to fight the deficit. last year the number of m ears and billionaire in america up 13%, average wages were flat. it's not an insignificant thing to do. we're talking about 35% to 39.6%. the -- we're not talking about something transformative like kennedy who cut the taxes from 90% to 70 phil esposito or reagan who cut them to 15%. chris: is it smart for them to use the old...
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Aug 22, 2010
08/10
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we have a runaway budget deficit. we have a runaway trade deficit. we're not exporting muff. we're importing too much. we've had ten years or one problem after another where people tried to find a way to replace manufacturing in our econo economy. monthing and turn it into something of value. that's how you create real wealth and how you create a middle class, and we've been focussing on the wrong things for some time now. >> do you think that something the government can be doing? >> absolutely. >> to create more jobs? >> first thing they need to do is get out of the way of the private sector. the magnitude of this crisis is similar, for different reasons, to what we went through in world war ii, and to solve that serious global issue back then we had to have public sector and private sector working together as one team focussing on building our strength to deal with the global issues. it's no different today. today there are economic issues. today the issues in our public sector and our private sector, the business community, need to be working on as a team. we don't need o
we have a runaway budget deficit. we have a runaway trade deficit. we're not exporting muff. we're importing too much. we've had ten years or one problem after another where people tried to find a way to replace manufacturing in our econo economy. monthing and turn it into something of value. that's how you create real wealth and how you create a middle class, and we've been focussing on the wrong things for some time now. >> do you think that something the government can be doing?...
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Feb 13, 2012
02/12
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next year's deficit will almost be $1 trillion. the white house is bragging about a broken promise. deficit reduction may be besides the point, and he is laying out a document paid for with tax increases on the rich against the deep-spending cuts that will be the heart of the republican parties program, rebuilding versus austerity. why should not the austerity be a centerpiece of what the united states government is about these days, given how high the budget deficit is, and how much economic uncertainty that fiscal insanity contributes? >> david, i think that there's pretty broad agreements that the time for austerity is not today. we need to be on the path where over the next several years we bring the deficit under control. right now if we were to put in austerity measures right now it would take america in the wrong way. "the new york times" for example argued that 2012, 2013 is not the time for austerity. the challenge is how do you do two things at the same time? how do you put money forward for things like getting a jump-sta
next year's deficit will almost be $1 trillion. the white house is bragging about a broken promise. deficit reduction may be besides the point, and he is laying out a document paid for with tax increases on the rich against the deep-spending cuts that will be the heart of the republican parties program, rebuilding versus austerity. why should not the austerity be a centerpiece of what the united states government is about these days, given how high the budget deficit is, and how much economic...
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Jan 26, 2011
01/11
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along with record deficits and debt. to the point where the president is now urging congress to increase the debt limit. we believe the days of business as usual must come to an end. we hold to a couple of simple convictions. endless borrowing is not a strategy. spending cuts have to come first. our nation is approaching a tipping point. we're at a moment where if government's growth is left unchecked and unchallenged america's best century will be considered our past century. this is a future in which we'll transform our social safety net into a hammock which lulls people into dependency. depending on bureaucracy to foster innovation, competitiveness and wise consumer choices has never worked and it won't work now. we need to chart a new course. speaking candidly as one citizen to another, we still have time. but not much time. if we continue down our current path, we know what our future will be. just take a look at what's happening to greece. ireland, the united kingdom and other nations in europe. they didn't act soo
along with record deficits and debt. to the point where the president is now urging congress to increase the debt limit. we believe the days of business as usual must come to an end. we hold to a couple of simple convictions. endless borrowing is not a strategy. spending cuts have to come first. our nation is approaching a tipping point. we're at a moment where if government's growth is left unchecked and unchallenged america's best century will be considered our past century. this is a future...